San Diego-based Pyron Solar Inc., a manufacturer of utility-scale concentrating photovoltaic systems, has closed a round of Series A equity financing with New Energies Invest Ltd. (NEI) of Switzerland. The new funds will be used to improve product reliability, expand the team and begin the transition from the demonstration phase to low levels of production.
"The investment from NEI is a crucial next step as we seek to establish the reliability of our product within certain key markets," says Doug Carriger, CEO of Pyron Solar.
The company says it is currently realizing pilot projects of its technology in Spain and China. In addition, the company will establish its own full-scale pilot project in the U.S. using its high-efficiency, low-profile concentrating solar generator. Currently, Pyron Solar has a working 6.6 kW prototype in El Cajon, Calif.
New & Noteworthy
